Please respond to the answer by giving some feedback and analysis in 1.5 to 2 paragraphs.
Go to the internet and find a news article that discusses the effects of a minimum-wage increase on the U.S. economy, summarize key points.
Currently the national Minimum wage is $7.25 an hr. Lately there has been a big push for the minimum wage to be increased to a “livable Wage” to $15.00 an hr. Now individual states have different wage requirements but they are all equal to or higher than the federal level. The argument is currently that you cannot live on a minimum wage. This is a correct statement, according to the livingwag.mit.edu calculator, the current livable wage is around $12.00 an hr. However According to Tim Warstall $4.20 is the living wage, this is based on the global income where 82.5% earn less than the median income in the United States.
So I would like to think that I am a realest and looking at the minimum as just that minimum salary for minimum skilled, minimum labor, and minimum needs. In today’s world there is plenty of work for anyone that is looking. However a job that is designed to pay Minimum wage should, in my opinion, be for the young single high school aged person. Something to get extra cash and start to learn how to save and use money. Before I joint the military I applied myself in high school to learn a trade as a mechanic. As a skilled Mechanic (no collage degree) I have been personal paid over $60,000.00 for may work. That is far better than the minimum wage even today.
I do not believe that there is a need for an increases in the minimum wage. I believe that there I a need to change the education system to teach basic budgeting as well as get back to teaching a skilled trade. I personally believe that if we can do that, the need to increases the wage go away. Skilled labor will always be an in demand workforce.
Jones, M. A. (2016, September 29) Effects of Minimum Wage Increases Extend Beyond the Law’s Reach. Retrieved November 30, 2016 from http://www.nytimes.com/roomfordebate/2016/09/29/poverty-prosperity-and-the-minimum-wage/effects-of-minimum-wage-increases-extend-beyond-the-laws-reach
Living Wage Calculator (n.d.). Retrieved November 30, 2016, fromhttp://livingwage.mit.edu/
Worstall, T. (2015, August 4). The 7 Most Dngerous Myths About a $15 Minimum wage. Retrieved November 30, 2016 from http://www.forbes.com/sites/timworstall/2015/08/04/the-7-most-dangerous-myths-about-a-15-minimum-wage/#50027b892c57